Remodeled Residential Income
New
For Sale
$79,900
1620 N Wilmot Rd #D-174, Tucson, AZ 85712
Studio-style residence with updated finishes, a covered patio, and access to two community pools.
Property Size500 SF
Price / SF$159.80
Days on Market4
Property Features for 1620 N Wilmot Rd #D-174
General Information
Standard status
Active
Size
500 SF
Property subtype
Multi-Family
Amenities
community pool
Building Details
Year Built
1977
Listing Agency:
Picture Perfect Realty LLC
Listed By:
arrt of Real Estate / Amelia Goudeau
(602) 460-5545
Source:
Arrtofrealestate
Added: Sep 14
Changed: Sep 17
Last Checked: Sep 16 at 6:52PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Picture Perfect Realty LLC
Investment Insights
Based on property information with market context.
This residential income property offers a studio-style arrangement with an open interior, designated breakfast area, and an oversized walk-in closet. Interior updates include tile flooring, upgraded cabinetry, countertops, a built-in microwave, electric range and oven, and a refrigerator. A fenced, covered patio extends the usable living area, while the appliances convey with the property.
Residents have access to two community pools and a walking path. The property is near the University of Arizona and within walking distance of dining and shopping options. Built in 1977, the residence combines a compact layout with updated interior features and community amenities.
Residents have access to two community pools and a walking path. The property is near the University of Arizona and within walking distance of dining and shopping options. Built in 1977, the residence combines a compact layout with updated interior features and community amenities.
Key Highlights
- Studio‑style layout with an open interior and oversized walk‑in closet
- Updated tile flooring, cabinetry, and countertops
- Built‑in microwave, electric range and oven, and refrigerator convey
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$5,138
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.43%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$102,760
$102.8K
Cap Rate 7%
$73,400
$73.4K
Cap Rate 9%
$57,089
$57.1K
Market Conditions
NOI Build-Up for 500 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$10.2K $20.40/SF
− Vacancy
−$859 −$1.72/SF
EGI
$9.3K $18.68/SF
− OpEx
−$4.2K −$8.41/SF
NOI
$5.1K $10.28/SF
Area
Tucson, AZ
Vacancy
8.42%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$102,760
Cap Rate 7%
$73,400
Cap Rate 9%
$57,089
Alternative Uses
Best Use
Apartment 5plus
$73.4K
$64.2K – $85.6K
NOI $5,138 @ 7.0% cap · market cap 6.43%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$129.9K
$113.7K – $151.5K
NOI $9,092 @ 7.0% cap · market cap 11.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,910
Businesses Nearby
Explore this area
Business Placement
Demographics for 85712, AZ
33,108
Population
18,215
Households
1.8
Avg Household Size
44
Median Age
37%
College-Educated
90%
High-School Grad
6.8 sq mi
ZIP Area
4,869
Density / Sq Mi
$48,185
Median Household Income
$39,090
Median Earnings
$947
Median Rent
$250,400
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Studio-style residence with updated finishes, a covered patio, and access to two community pools.
Where is this residential income property located?
The property is located at 1620 N Wilmot Rd #D-174 Tucson, AZ.
What is the asking price?
The asking price for this property is $79,900.
What are key features of this property?
This property features: Studio‑style layout with an open interior and oversized walk‑in closet; Updated tile flooring, cabinetry, and countertops; Built‑in microwave, electric range and oven, and refrigerator convey
